First Trust Advisors LP grew its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 41.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,621 shares of the bank’s stock after acquiring an additional 25,281 shares during the quarter. First Trust Advisors LP owned 0.20% of NBT Bancorp worth $3,151,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc bought a new stake in shares of NBT Bancorp in the fourth quarter valued at approximately $208,000. Crossmark Global Holdings Inc. bought a new stake in shares of NBT Bancorp in the third quarter valued at approximately $239,000. Victory Capital Management Inc. boosted its position in shares of NBT Bancorp by 33.2% in the third quarter. Victory Capital Management Inc. now owns 6,650 shares of the bank’s stock valued at $244,000 after acquiring an additional 1,657 shares during the period. Quadrant Private Wealth Management LLC bought a new stake in shares of NBT Bancorp in the fourth quarter valued at approximately $250,000. Finally, Stevens Capital Management LP bought a new stake in shares of NBT Bancorp in the third quarter valued at approximately $384,000. 51.43% of the stock is owned by institutional investors.
NBT Bancorp Inc. (NBTB) opened at $37.31 on Wednesday. The company has a market capitalization of $1,622.09, a price-to-earnings ratio of 19.95 and a beta of 0.88. NBT Bancorp Inc. has a 12-month low of $31.28 and a 12-month high of $40.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.23 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.92 annualized dividend and a yield of 2.47%. NBT Bancorp’s dividend payout ratio (DPR) is currently 49.20%.
In other NBT Bancorp news, Director Robert A. Wadsworth sold 1,625 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $37.20, for a total transaction of $60,450.00. Following the completion of the transaction, the director now directly owns 16,194 shares in the company, valued at $602,416.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Chewens sold 4,190 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $38.41, for a total value of $160,937.90. Following the transaction, the chief financial officer now owns 59,443 shares of the company’s stock, valued at $2,283,205.63. The disclosure for this sale can be found here. 3.07% of the stock is owned by company insiders.
Several research firms have recently weighed in on NBTB. BidaskClub raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.50 target price on shares of NBT Bancorp in a research report on Monday, February 5th. Boenning Scattergood reaffirmed a “hold” rating on shares of NBT Bancorp in a research report on Wednesday, January 24th. Finally, Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.13.
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NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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